Tesla smashes record again despite challenges

There seems no end to Tesla’ momentum – the Californian-based electric vehicle producer has set another quarterly delivery record despite ongoing market challenges.

For the first quarter of 2022, Tesla delivered 310,048 units – 68 percent more than it achieved in the same period of 2021.

The production figures included some 295,324 Model 3 and Model Y variants, while the remaining 14,724 comprised of Model S and Model X variants. By contrast, Tesla produced 180,338 units between January 1 and March 31, 2021.

Money Transfers chief executive Jonathan Merry said it was an outstanding result.

“Tesla’s Q1 2022 performance is more impressive considering the testing environment it has been operating under,” he said.

“It has had challenges with supplies and the closures of its Shanghai plant.

“One would expect these to impact its numbers; if it has, it’s minimal, which speaks volumes of Tesla’s resilience.”

Tesla appears to stand alone in the US market where competitors including GM, Audi and Kia are in decline.

General Motors delivered just 457 electric vehicles in Q1 2022 and recalled thousands of its Bolt electric models due to battery issues.

Conversely, BMW reported marginal gains in US sales across Q1, while Hyundai reported a massive 241 percent increase in the sale of its batteryelectric models. Money Transfers says much of the production slowdown in the United States remains attributable to supply-chain bottle necks and microprocessor shortages related to the COVID-19 pandemic.

Additionally, the prices of raw materials, including aluminium and nickel, plus Russia’s invasion of the Ukraine, are taking their toll on BEV production.

In the United States, these and other factors have led to new-car price hikes and a modest downturn in sales, but the publication says Tesla has weathered the storm better than most.

Money Transfers says the new Tesla facilities in Brandenburg and Gruenheide, Germany, and Austin, Texas – along with its corporate headquarters move to Austin, Texas, are ‘pivotal’ parts of the firm’s expansion plans and will work to further ‘solidify Tesla’s market dominance’.

Locally, year-to-date sales of Tesla’s Model 3 set a record in the first quarter of 2022.

The American company sold 4417 examples of its mid-size five-door model, bolstering strong March sales of 101,233 units – an increase of 1228 units on the same period last year.

The Federal Chamber of Automotive Industries, FCAI, says those numbers point to an indication of Australia’s post-pandemic economic recovery.

It says the addition of Tesla and Polestar to the monthly VFACTS report brings some much-needed accuracy to its recording of electric vehicle sales.

FCAI chief executive Tony Weber echoed the sentiments of Money Transfers, saying manufacturers across the globe are working hard to match supply with demand.

“This is historically a unique time in which supply rather than demand is determining the size of the market,” he said.

“This is due to manufacturers recovering from the pandemic-related shutdowns and the ongoing global shortage of micro-processing units.

“Consumer inquiries and demand for new cars remain strong. Manufacturers are working hard to match this demand with supply.”